LAND BANK OVERLOOKING THE RIVER IN THE HEART OF CHRISTCHURCH

Listing Number:  769
Posting Date:  15 February 2008






 
Price:$810,000
Listing:LAND BANK OVERLOOKING THE RIVER IN THE HEART OF CHRISTCHURCH
Type:House : Subdivision Potential
Category:Purchase Option
Bedrooms:4
Bathrooms:3+
Region:Canterbury
Site Area: 
Address: Login
Building Area:1138 m2
Property Image

Description:

Prime L4C land This zone provides for redevelopment to a medium to high density whilst also catering for existing character homes in the area .

This property is situated on 1138 square meters of prime re development land.

The property consists of an aged villa converted into four flats providing good holding income while you decide whether to develop this amazing site or land bank for the future.

The property is positioned on the north side north side of Cambridge Terrace, one block west of Fitzgerald Avenue.

Surrounding homes are mixed including original villas, restored character homes used for commercial and residential premises, modern medium to high density town housing as well as earlier purpose built ownership flats.

The location is directly opposite the river, having an attractive outlook to the south. The property is within easy walking distance to the central city and the area is very popular due to the river and its location.


We have since purchasing this property gone through and replaced all the tenants and increased there rents to market rates. We have also instructed our property manager to place them only on periodic tenancies so that if the new owner wishes to develop you will not be forced to wait while a fixed term tenancy runs it course.


We have a 900k valuation on this property and will sell this property for 810k 10% under valuation . We will take a $15k fee for this property.

We can also provide more photos request.